President Mahama of Ghana, TRANSFAST CEO Meet to Discuss Vital Role of Remittances in Ghanaian Economy

NEW YORK, Oct. 2, 2014 /PRNewswire/ -- His Excellency John Dramani Mahama, President of the Republic of Ghana, and Samish Kumar, CEO of TRANSFAST, LLC, a leading international money transfer and payments company, met recently to discuss remittances to Africa and their benefit to Ghana as a reliable, predictable source of capital.

Photo - http://photos.prnewswire.com/prnh/20141002/149977

The meeting took place as part of a luncheon where President Mahama addressed current and prospective investors, sponsored in part by TRANSFAST.

TRANSFAST is first in the industry to offer customers online bank-to-bank transfers to Ghana, thanks to the company's investment in cutting-edge technology. Customers can send money to Ghana online in just a few clicks, from the convenience of their desktop and mobile device, or at retail, with funds delivered directly to a bank account, or available for cash pick-up.

"Ghanaians living abroad now have a wide range of options for sending money home, in an affordable and convenient manner," said Mr. Kumar, CEO of TRANSFAST.

TRANSFAST's current Ghanaian banking partners include HFC Bank, Fidelity Bank, UT Bank, First Atlantic Bank and Merchant Bank -- and the network continues to grow.

Today, there are millions of Ghanaians living abroad -- up to 3 million by some estimates -- and Ghana has benefited from a 67-percent increase in remittances from 2004 to 2012, according to the World Bank.

Mr. Kumar, whose company helped sponsor the Ghana luncheon as a way to encourage investment in the Ghanaian economy, said, "We are proud to be a contributor to the health and growth of the Ghanaian economy."

As part of TRANSFAST's commitment to Africa, starting today, when customers send money online to Africa, TRANSFAST will donate $2 to UNICEF, which is working to stop the spread of Ebola in the nations of Gambia, Guinea, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.

TRANSFAST, a leading international money transfer and payments company in the $436 billion annual global remittance industry, operates a proprietary network of over 300,000 payment points across more than 100 countries in the Americas, Asia, Europe, and Africa.

CONTACT: For additional info about this release or TRANSFAST, contact: Laura Tiebert; Email; +1-312-510-0632

SOURCE TRANSFAST

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